Podcast: How Mastercard deploys APIs


Payments
behemoth



Mastercard


uses
APIs
to
develop
a
wider
range
of
products
for
business
clients.
 


The
company
processes
roughly

125
billion
transactions
annually

and
managing
data
flow
through
APIs
makes
Mastercard’s
operations
efficient,



Chad



Wallace
,
executive
vice
president
of
B2B
solutions,
tells



Bank
Automation
News


on
this
episode
of
“The
Buzz”
podcast.
 


Deploying
APIs
within
its
operations
helps
Mastercard
“standardize
the
way
that
we
design
our
applications
internally,”
Wallace
says,
adding
that
APIs
help
tools
and
products
communicate
with
each
other
and
pass
data
between
each
other
to
complete
processes
in
real
time.
 


“We’d
like
to
deliver
real-time
customer
experiences,”
Wallace
says.
“The
use
of
APIs
allows
us
to
be
able
to
manage
those
internal
applications
in
a
way
that
really
helps
us
deliver
a
real-time
experience.”
 


Mastercard
also
integrates
its
financial
products
to
its
clients
through
APIs
which
allows
greater
security
and
control
over
workflows,
Wallace
says.
 


“Those
could
be
expense
management
platforms,
those
could
be
procure-to-pay
platforms,
or
in
a
cash
platform,”
Wallace
says.
API
connections
allow
Mastercard
to
provide
a
better
customer
experience
because
“the
more
that
we
can
integrate
the
payment
into
the
actual
workflow
for
the
finance
team,”
the
more
seamless
an
experience
Mastercard
can
provide.
 


Listen
to
“The
Buzz”
to
hear
Wallace
discuss
Mastercard’s
API
strategy,
B2B
solutions
and
virtual
card
innovations.
 


The
following
is
a
transcript
generated
by
AI
technology
that
has
been
lightly
edited
but
still
contains
errors.

Vaidik
Trivedi
10:40:16
Hello,
and
welcome
to
The
Buzz
bank
automation
news
podcast.
My
name
is
where
the
three
the
attendee
associate
editor
of
bank
automation
News.
Today
is
May
7
2020.
And
joining
me
is
Chad
Wallace
is
the
executive
vice
president
of
b2b
Solutions
at
MasterCard,
and
is
tasked
with
developing
and
deploying
digital
payment
solutions
for
businesses.
Chad
will
talk
to
us
about
how
MasterCard
approaches
innovation.
What
are
some
major
pain
points
for
businesses?
How
does
which
we
got
fit
in
the
ecosystem
to
solve
those
problems?
And
what’s
in
the
pipeline
for
MasterCard?
Welcome
to
the
bus
chat.
Can
you
tell
our
listeners
a
little
bit
about
yourself?
Yeah,

Chad
Wallace
10:40:58
absolutely.
So
first
and
foremost,
thank
you
for
having
me
on
today.
So
a
little
bit
about
myself
and
what
I
do
i
i
joined
MasterCard
roughly
about
two
years
ago
to
lead
our
corporate
payments
business.
And
so
I
lead
our
product
or
engineering
and
our
business
development
teams
around
the
world.
And
we
designed
products
that
are
geared
towards
corporates,
specifically
large
enterprise
corporates.
And
what
we
do
is
we
look
at
opportunities
to
help
finance
teams
and
HR
teams
better
manage
their
cash
flow.
We
partner
with
many
financial
institutions
in
this
space
to
develop
software
services.
And
those
software
services
are
designed
for
things
like
our
corporate
card
program.
We
have
tools
and
accounts
payable
and
accounts
receivable,
sometimes
those
are
financial
products
that
we
offer
to
the
financial
institutions
who
then
offer
them
to
their
corporate
clients.
And
then
sometimes
they’re
more
software
based
products.
So
we
do
have
a
number
of
products
that
help
on
accounts
receivable,
automation
and
accounts
payable
automation.
And
but
ultimately,
our
end
goal
is
to
be
able
to
help
those
corporates
that
are
using
our
products
better
manage
their
cash
flow,
better
manage
their
procurement
processes
and
better
manage
their
treasury
processes.

Vaidik
Trivedi
10:42:10
bill
payments
is
a
very
complex
field.
And
there
are
many
nuances
and
many
technological
developments
that
happen
in
this
landscape
all
the
time.
Let’s
pick
out
one
specific
thing.
I
personally
want
to
know
what
API’s
are.
And
how
does
MasterCard
use
it?
What
are
its
main
benefits
in
simplifying
and
modernizing
the
payments?
Landscape?
Yeah,

Chad
Wallace
10:42:34
absolutely.
So
in
MasterCard,
you
know,
we
have
a
broad
range
of
products
and
services
that
are
designed
for
consumers,
for
businesses
and
for
enterprise
customers.
And
we
use
API’s
for
connectivity
purposes
all
over
our
organization.
I
think,
at
last
count,
we
have
roughly
about
125
billion
transactions
that
we
manage
on
an
annual
basis
just
alone.
And
so
a
broad
broad
set
of
payment
capabilities
that
are
available
for
our
customers.
When
I
think
about
the
use
of
API’s,
we
certainly
think
about
those
in
the
context
of
internal
use
cases,
as
well
as
external
use
cases.
And
I’ll
give
you
a
few
examples.
And
the
uses
of
API’s
allows
us
to
standardize
the
way
that
we
design
our
applications
internally.
So
that
way,
various
different
tools
that
we
have,
can
communicate
with
each
other
and
pass
data
between
each
other
and
make
our
products
just
more
real
time.
Ultimately,
we’d
like
to
deliver
real
time
customer
experiences.
And
the
use
of
API’s
allows
us
to
be
able
to
manage
those
internal
applications
in
a
way
that
really
helps
us
deliver
a
real
time
experience.
But
we
also
use
these
externally
as
well.
And
so
when
we
think
about
integrating
with
financial
applications
that
corporates
use,
we’re
often
using
API’s
to
do
that
integration.
So
those
could
be
expense
management
platforms,
those
could
be
procure
to
pay
platforms,
or
going
to
cash
platform.
So
think
of
the
accounts
payable
platforms
or
the
accounts
receivable
platforms.
Well,
what
we’re
doing
is
we’re
really
integrating
our
financial
products
into
those
tools.
So
that
way,
at
the
point
where
someone
goes
in
and
needs
to
be
able
to
pay
an
invoice
as
an
example,
they
have
the
optionality
to,
you
know,
pay
that
using,
let’s
just
say
a
virtual
card.
And
in
this
respect,
and
so
many
of
these
financial
tools,
such
as
ERP
systems,
or
procurement
platforms,
or
expense
management
platforms
that
we
partner
with,
are
integrating
with
the
set
of
API’s
that
we
offer,
so
that
way
they
can
deliver
those
experiences
embedded
into
their
solutions.
And
what
that
does
is
it
really
allows
us
to
create
more
of
a
consumer
grade
experience
for
our
corporates,
the
more
that
we
can
integrate
the
payment
into
the
actual
workflow
that
the
finance
team
is
trying
to
manage
through
the
closer
that
we
are
to
be
able
to
provide
one
seamless
experience
where
payment
becomes
just
part
of
the
workflow
itself.
And
it
doesn’t
necessarily
have
to
be
a
separate
application
where
people
will
need
to
swivel
chair
between
two
different
platforms
to
manage
both
the
ERP.
And
then
the
payment
itself
is,
you
know,
one
example.
So
the
use
of
API’s
is
really
critical
for
our
our
success
at
MasterCard
in
their
commercial
space,
we’ve
offered
and
launched
a
number
of
new
tools,
I’ll
share
just
a
couple
of
those,
just
as
Recently
we
launched
a
new
business
payment
control
API.
What
that
does
is
it
allows
our
financial
institution
partners
fintechs,
and
some
of
the
financial
tools,
some
of
the
software
tools
to
be
able
to
integrate
to
our
platform
and
set
card
controls
at
the
network
level.
And
so
that’s
a
really
incredible
way
for
our
partners
to
integrate
deeply
into
our
network,
and
allows
them
to
give
real
great
security
and
control
on
the
payments
so
that
way
they
can
manage
their
their
payment
workflows
very
closely.
We’ve
also
done
integrations
in
the
ERPs.
As
I
mentioned
before,
with
companies
like
Oracle,
with
SAP
Talia,
we’ve
nounce
those
partnerships.
In
the
past,
there’s
Republic,
and
Windows
as
an
example,
with
Oracle,
we’re
embedded,
you
know,
deeply
into
their
Oracle
Fusion
platform,
we’re
at
the
point
of
invoice
presentment,
we’ll
be
able
to
create
a
virtual
card
manage
the
payment
of
that
virtual
card
directly
within
their
application.
Similar
with
SAP
Toyah,
the
same
thing
we
do
there,
it
is
a
partnership
where
at
the
point
where
a
payment
run
needs
to
happen,
those,
those
virtual
cards
are
ready
to
be
used
for
those
invoice
payments.
And
it’s
all
integrated
through
our
set
of
API’s
that
we
offer
to
our
customers.

Vaidik
Trivedi
10:46:53
They
b2b
payments
are
one
of
the
biggest
payment
blog
on
the
planet.
And
there
is
tremendous
payment
volume
that
flows
through
the
token,
what
are
some
of
the
biggest
pain
points
that
you
see
in
this
payments
landscape?
And
how
do
you
approach
in
innovating
and
solving
those
pain
points
for
customers?

Chad
Wallace
10:47:15
Yeah,
so
maybe
the
first
thing
to
cover
would
be
how
we
how
we
think
about
solving
those
types
of
customer
pain
points.
And
so
we
spend
a
lot
of
times
with
a
lot
of
time
with
various
different
customers.
So
thinking
about
not
only
with
the
financial
institution
or
FinTech
partner
that
we
have,
or
even
the
financial
application,
that
we
partner
with
what
their
needs
are,
but
we
actually
spend
a
lot
of
time
directly
with
chief
procurement
officers
with
treasures,
with
chief
financial
officers
really
getting
to
a
point
where
we
know
deeply
how
their
accounts
payable
process
or
procurement
process
or
accounts
receivable
process
works,
listening
to
customers,
and
shadowing
them
in
the
context
of
making
sure
that
we
really
understand
what
problem
we’re
solving.
And
sometimes
that
problem
isn’t
necessarily
visible
or
transparent
to
the
customer.
It
really
gets
to
the
point
where
when
you’re
shadowing
a
group
of
people,
and
you
just
start
asking
various
different
questions,
and
some
of
those
questions
result
in
potentially
new
product
ideas,
which,
you
know,
we
always
find
fascinating,
where
we’re
looking
for
new
innovation.
When,
when
we
see
some
of
those
challenges
as
we
shadow
some
of
those
customers,
as
we
talk
to
chief
procurement
officers
as
we
talk
to
their
teams,
we
find
a
lot
of
people
have,
you
know,
various
different
levels
of
understanding
of
how
to
manage
their
payables
flow
as
an
example,
for
b2b
payments.
Some
people
are
using
your
traditional
wire
transfer
or
EFT
methods
of
payment.
And
they’ve
been
doing
that
for
a
long
time,
we
see
a
lot
of
people
in
the
corporate
world
still
using
cheque
and
still
using
cash.
in
certain
markets,
certain
markets
across
the
globe
are
more
digitized.
And
so
therefore,
you
don’t
necessarily
see
much
check
in
cash.
And
so
the
variations
of
what
payment
schemes
exist
within
various
different
markets.
It
does
change
the
behavior
and
changes
the
way
that
people
are
attempting
to
make
those
b2b
payments.
But
in
some
markets,
you’ll
see
a
predominance
of
cheque
and
cash,
and
then
some
EFT
or
wire
transfers
being
used.
And
the
one
thing
that
we
have
been
focused
on
at
MasterCard
for
a
while
is
around
our
virtual
card
strategy.
We
kicked
that
off
roughly
about
10
years
ago.
And
what
we’ve
been
doing
is
initially
started
off
with
offering
those
use
cases
for
people.
So
people
who
wanted
to
create
a
secondary
card
number
on
the
fly
within
a
mobile
app,
we
had
a
we
have
a
tool
that
does
that.
And
we’ve
actually
found
a
number
of
interesting
use
cases
in
the
b2b
space
for
virtual
cards
as
well.
And
you
can
think
of
a
virtual
card
to
be
a
product
that
if
you
have
a
credit
card
line,
a
corporate
card
line
of
credit
with
your
financial
institution,
we
can
create
an
on
the
fly
16
digit
card
number
that’s
used
for
a
very
specific
purpose.
It’s
locked
down.
We
can
say
that
it’s
for
specific
merchants
for
a
specific
period
of
time,
for
a
specific
amount,
we
have
all
these
different
types
of
controls
that
are
allowed
to
be
created
on
the
card.
So
that
way,
the
people
using
those
cards
can
really
pinpoint
how
they
want
that
transaction
to
be
used.
And
it
gives
them
a
lot
of
security
and
control
around
that.
And
when
we
started
introducing
this,
for
b2b
transactions,
it
was
a
great
way
to
pair
the
payment
with
the
opportunity
around
working
capital
as
well,
because
ultimately,
this
is
a
credit
line,
the
credit
line
is
available
for
the
customer
to
use,
and
then
you
know,
they
make
those
payments,
or
they
can
pay
their
suppliers
early,
take
advantage
of
early
payment
discounts,
and
then
at
that
point,
and
pay
that
line
of
credit
off
at
the
appropriate
time
to
financial
institution.
So
it
gives
them
that
flexibility
of
working
capital
for
a
period
of
time,
but
also
manages
the
payment
and
an
extremely
secure
way.
And
we’ve
seen
the,
you
know,
a
number
of
different
use
cases
here
that
have
come
up
in
this
space
and
b2b.
One
is
you
think
about
a
corporate
accounts
payable
process,
you
often
end
up
having
some
strategic
spin
where
that
strategic
spin
is
large,
extremely
large
payments
that
need
to
be
made,
they
could
be
professional
service
related,
this
could
be
vendors
that
you
need
to
pay,
could
be
software
providers
that
are
providing,
you
know,
large
scale
stuff,
software
solutions
for
you.
And
then
there
is
more
of
let’s
say,
let’s
call
it
the
tailspin,
essentially,
you
know,
this,
the
smaller
dollar
payments
were
vendors
that
don’t
necessarily
get
paid
on
a
very
frequent
basis.
And
the
initial
view
sige
of
those
virtual
cards
was
really
around
trying
and
procurement
cards
was
really
around
trying
to
manage
that
Tailspin
process
because
it’s
expensive
to
be
able
to
input
the
information
into
the
supplier
master
the
ERP
manage
the
manage
that
process
overall.
And
so
often
people
were
using
a
procurement
card
for
those
smaller
transactions.
And
then
we’ve
seen
the
rise
and
use
of
virtual
cards
for
b2b
payments
for
that
tailspin.
But
more
and
more
over
the
last
few
years,
we’ve
started
to
see
people
use
it
for
strategic
spend
as
well
for
the
working
capital
reasons,
which
is
a
big
reason
why
MasterCards
very
invested
into
making
sure
that
our
products
and
services
are
designed
well,
and
meeting
the
needs
of
for
a
b2b
payment
perspective,
in
the
virtual
card
space.
We’re
constantly
looking
to
innovate
in
that
space.
And
just,
you
know,
going
back
to
the
API
comment
earlier,
being
integrated
with
all
of
these
platforms,
like
ERP
systems
and
procurement
platforms
is
a
key
pillar
of
our
strategy.
When,
when
I
think
about
the
uses
of
virtual
cards,
also,
we’ve
been,
we’ve
been
very
interested
in
how
we
can
apply
mobile
virtual
cards
in
the
context
of
being
able
to
use
those
for
petty
cash
use
cases,
as
well
as
employees
who
don’t
necessarily
travel
a
lot.
But
perhaps
they
need
to
travel
once
a
year,
you
don’t
necessarily
want
to
issue
a
physical
card
to
those
folks,
or
have
a
card
man
to
be
managed
full
time.
But
I
buy
those
folks.
But
maybe
it’s
a
trip
that
one
person
needs
to
take
in,
they
only
travel
maybe
once
every
quarter,
once
a
year,
and
you
don’t
need
to
necessarily
create
an
entirely
new
card
for
them.
So
the
use
of
those
virtual
card
capabilities
for
mobile
use
cases
in
the
context
of
employee
travel,
candidate
travel
is
on
the
rise
as
well.
And
just
last
week,
we
launched
our
mobile,
our
proprietary
mobile
virtual
card
application.
And
so
that
brings
just
yet
another
option
to
the
market
for
MasterCard
issuers
and
MasterCard
customers
to
be
able
to
manage
their
Vcn
spend
on
a
mobile
device.

Vaidik
Trivedi
10:53:51
So
what
will
actually
cards,
there
are
very
interesting
offering,
as
you
just
mentioned
that
earlier
this
month,
MasterCard
launched
its
own
virtual
card
offering.
And
you
said
that
you
have
been
working
on
this
technology
for
nearly
a
decade.
Can
you
tell
our
listeners
a
little
bit
about
the
product
that
you
recently
launched?
And
what
growth
opportunities
do
you
see
in
virtual
card
market?
Are
we
gonna
see
more
virtual
card
transactions
in
the
future
compared
to
physical
card
transactions?

Chad
Wallace
10:54:21
Yeah,
so
great,
interesting
couple
of
items
that
you
bring
up
there.
So
yeah,
as
I
mentioned
earlier,
we
do
have
we’ve
been
pioneering
this
information,
this
technology
for
about
the
last
decade.
We
initially
started
out
in
the
consumer
space,
we
then
launched
our
b2b
services
which
essentially
we
create
a
virtual
card
we
send
that
to
a
supplier
supplier
then
can
take
that
card.
Earlier
this
month,
we
launched
our
mobile
virtual
car
capability.
And
so
that’s
great
for
use
cases
such
as
petty
cash
you
usages
people
that
don’t
travel
much,
but
I’ll
share
it
another
one.
Another
example
that
we
heard
is
that
we
went
out
and
talked
to
a
number
of
Chief
Human
Resources
officers
and
the
Chief
Human
Resources
officers
talked
quite
a
bit
to
us
about
the
fact
that
whenever
they
bring
in
candidates
for
interviews,
that
the
process
was
clunky
You
know,
candidates
would
have
to
spend
the
money
on
their
personal
card,
they
would
submit
their
receipts,
those
receipts
would
then
be
reviewed
by
their
finance
teams,
they
would
go
through
an
approval
process,
and
then
a
truck
would
be
cut
to
the
candidate
to
pay
them
back
for
the
travel
associated
to
that
interview.
And
by
offering
mobile
virtual
cards,
we
can
create,
we
essentially
now
a
product
that’s
designed
for
someone
to
digitize
that
process
entirely.
And
so
you
can
issue
a
mobile
virtual
card
that
can
be
branded
associated
to
the
financial
institution
that’s
offering
this
this
product
through
through
us.
And
what
it
allows
you
to
do
is
to
send
that
to
the
candidate,
the
candidate
can
use
it
to
book
their
travel,
they
can
go
on
to
their
airline
site,
book,
The
travel,
they
can
go
and
pay
for
their
hotel,
they
can
pay
for
restaurants,
they
can
pay
for
the
transportation
to
and
from
the
office
as
an
example.
And
it
really
allows
a
lot
of
control
for
that
camp
for
the
corporate
who’s
managing
that
candidates
travel
in
to
know
exactly,
you
know,
what
they’re
doing,
what
they’re
spending
their,
their
funds
on,
and
make
sure
that
they’ve
got
the
proper
data
to
be
able
to
reconcile
that
easily
without
having
to
ask
for
manual
receipts.
You
know,
I
think
that’s
one
really
good
example
of
us
thinking
outside
of
the
box,
and
really
looking
at
use
cases
that
are
beyond
just
traditional
finance
use
functions.
But
you
know,
as
we
sit
down,
and
we
talk
to
these
various
different
people
within
organizations,
we’re
finding
a
lot
of
different
interesting
use
cases
come
up
for
the
use
of
virtual
cards.
And
outside
of
what
we
launched
earlier
this
month,
which
is
that
mobile
Vcn
product
that
allows
our
issuers
to
be
able
to
manage
those
through
the
app
that
we
created.
We’ve
also
been
very
invested
into
working
with
various
different
industry
verticals,
to
create
ecosystems.
And
so
our
travel
use
cases
for
virtual
cards
are
very
strong.
You
know,
we
partner
with
many
online
travel
agencies,
financial
institutions,
airlines,
and
hotel
chains
to
build
capabilities
to
where
when
an
online
travel
agency
receives
a
booking,
that
airline
or
that
hotel
chain
can
be
paid
using
the
virtual
card
product
received
those
funds
real
time
through
the
network
that
we’ve
created.
And
and
that’s
been
a,
it’s
been
very
interesting
product
that
our
customers
have
been
very
strongly
positively
responding
to.
We’ve
seen
those
use
cases
as
well
in
areas
such
as
health
care,
and
education.
I’ll
give
you
an
example
for
the
healthcare
use
case,
we
partnered
with
a
company
in
India.
And
what
they
do
is
they
manage
claims
that
are
happening
between
insurance
companies
and
hospitals
or
medical
providers.
And
it
the
use
case
was
very
interesting,
because
we,
the
insurance
companies
need
to
be
able
to
pay
the
medical
providers,
and
the
hospitals
and
medical
providers
talked
about
the
fact
that
they
really
need
to
focus
on
the
working
capital
benefit
that
they’re
getting,
because
they’re
getting
paid
earlier.
And
they’re
able
to
manage
their
cash
flow
better.
And
so
we’re
seeing
a
really
interesting
use
case
in
the
healthcare
space
in
India
popping
up
for
the
use
of
virtual
card.
And
on
the
education
side,
we
partnered
with
companies
to
be
able
to
manage
where
students
pay
a
payment
aggregator
and
those
payment
aggregators,
then
pay
the
universities.
And
so
that’s
been
a
really
interesting
use
case
as
well
in
the
virtual
card
space.
But
we
continue
to
see
these
different
methods
of
where
people
want
to
marry
that
payment
capability
with
the
working
capital.
And,
and
that
gives
a
really
strong
value
proposition
to
why
people
are
starting
to
use
virtual
cards
more
and
more.
Overall,

Vaidik
Trivedi
10:59:04
data
is
the
new
goal
for
many
industry
verticals
are
so
I’ve
been
hearing
that
from
a
lot
of
people.
Can
you
tell
me
how
this
essential
resource
is
restructuring
executive
leadership’s
across
board?
And
how
is
MasterCard
looking
towards
this
resource?
How
are
you
using
this
for
innovation
and
technology
development?
We

Chad
Wallace
10:59:30
do
hear
that
data
is
a
massively
important
part
of
the
CFOs
function.
You
know,
you
see
people
moving
into
CFO
roles
who
are
very
interested
in
making
sure
that
they’re
making
qualified
decisions
around
how
to
run
their
business
and
making
qualified
decisions
around
how
they
run
their
business
is
predicated
on
the
fact
that
they
have
really
strong
data
to
support
the
analytics
and
support
the
questions
that
they
need
to
ask
in
order
to
better
manage
their
their
capital
overall.
And
the
thing
that
we
continue
to
hear
is
how
managing
that
data
is
very
important
for
the
CFO.
You
know,
we
hear
it
through
our
conversations
with
Accounts
Payable
teams,
we
hear
it
In
our
conversations
with
the
receivables
teams
and
with
the
Treasury
teams,
and
overall,
you
know,
it
really
becomes
a
cornerstone
of
what
we
think
is
important
for
those
finance
teams
to
manage.
Some
of
that
is
based
on
where
you
know,
the
amount
of
data
that’s
stored
in
the
ERP
or
the
procurement
platform,
and
how
that
gets
integrated
across
the
payment
networks.
You
know,
we
see
that
there’s
a
lot
of
opportunity
there
for
us
to
be
able
to
help
financial
institutions
and
help
our
core
corporate
customers
to
be
able
to
manage
the
two
of
those
together,
we
launched
a
Accounts
Payable
analytics
platform.
And
as
part
of
that,
what
that
platform
does
is
it
allows
us
to
take
a
look
at
a
corporates
Accounts
Payable
file,
and
think
and
take
a
look
at
various
different
aspects
of
data
that
we
aggregate
to
be
able
to
help
them
make
better
decisions,
some
of
those
decisions
around
how
to
pay
so
we
can
qualify
whether
or
not
the
supplier
is
willing
to
accept
a
car
transaction,
the
parameters
around
how
they
want
to
accept
that
car
transaction,
so
is
there
up
to
a
certain
limit
certain
types
of
buyer
supplier
relationships
that
they
would
like
to
manage
the
card,
or
if
they
should
use
a
EFT
or
wire
transfer
in
that
space.
We
also
look
at
things
such
as
managing
suppliers
ESG
scoring.
So
we
have
tools
that
are
designed
to
allow
a
buyer
to
scan
their
supplier
base
and
really
understand
from
a
sustainability
perspective,
where
their
suppliers
are.
And
we’ve
seen
a
lot
of
really
interest
in
that
product,
due
to
the
need
and
the
push
for
more
ESG
friendly
capabilities
and
making
sure
that
people
supply
chains
are
ESG
friendly.
And
then
we
also
have
tools
that
help
buyers
manage
the
supplier,
the
suppliers
risk
profile
as
well.
We
have
a
product
called
Risk
recon
and
risk
recon
allows
you
to
really
take
a
look
at
the
suppliers
from
various
different
aspects,
including
their
their
health
from
a
cyber
perspective
as
an
example.
And
so
we
know
that
the
corporates
are
very
interested
in
making
sure
that
their
supplier
base
is
sustainable,
that
they
are
protected
from
cyber
events
and
how
they
manage
that
data,
it
becomes
continuously
very,
very
important
for
them
to
them
to
be
constantly
looking
at
and
making
sure
that
their
supplier
base
is,
is
working
well
and
working
efficiently
for
them.
We
think
about
the
integration
of
the
tools
and
services
that
we
have,
we
have
already
announced
our
partnerships
with
those
various
different
ERPs
that
I
mentioned
in
the
past,
but
we
continue
to
embed
those
data
assets
within
those
ERPs.
And
there’s
payment
products
within
those
ERP
systems
as
a
key
point
of
differentiation,
where
the
combination
of
the
ERP
with
the
power
of
the
network
that
MasterCard
has
really
allows
us
to
be
able
to
create
that
that
really
compelling
product
that
helps
our
chief
financial
officers
make
better
decisions
around
how
to
manage
their
capital,
how
to
how
to
manage
their
treasury
function,
and
how
to
manage
a
payables
and
receivables
products.

Vaidik
Trivedi
11:03:30
That’s
really
interesting.
I’m
actually
looking
forward
to
what
you
guys
come
up
in
the
coming
time.
So
looking
ahead
in
2024,
what
are
some
key
trends
that
you’re
noticing
in
b2b
payments
landscape?
And
what’s
in
the
pipeline
for
you?

Chad
Wallace
11:03:45
Yeah,
so
a
couple
of
trends
that
we
have
been
very
focused
on,
I
mentioned
the
launch
of
our
mobile
app,
we
are
strongly
we
strongly
believe
that
the
corporate
lifestyle
that
people
has
and
employees
should
be
equally,
the
applications
that
you
use
should
be
equally
as
proficient
from
a
experience
perspective
as
your
consumer
life.
So
the
more
that
we
can
upgrade
the
digital
experiences
to
be
more
consumer
grade,
we
are
very
focused
on
that.
And
mobile
is
one
aspect
of
that.
As
an
example,
with
our
mobile
virtual
card
product,
we
also
have
use
cases
where
truck
drivers
that
are
managing,
you
know,
moving
trucks
across
the
country,
will
you
leverage
that
product
to
be
able
to
manage
their
spend
better.
And
so
that
centralized
reporting
and
that
centralized
Spend
Management
allows
our
fleet
drivers
to
use
the
product
really
efficiency
efficiently,
and
they’re
using
that
through
the
mobile
apps.
And
we’re
also
seeing
a
rise
of
the
adoption
of
mobile
specifically
in
various
different
markets
and
jurisdictions
that
are
more
tapped
to
pay
or
more
contactless
friendly.
I
happen
to
be
traveling
to
Australia
and
happen
to
lose
my
wallet
on
the
plan,
not
a
great
moment
for
myself.
I
happen
to
lose
my
wallet
forgotten
on
the
plane,
got
to
Australia
and
was
able
to
pay
for
my
hotel
pay
for
all
of
my
transportation
pay
for
all
of
the
restaurants
through
my
mobile
device,
I
never
once
had
to
have
a
physical
card.
And
the
more
that
we
see
the
adoption
of
those
contactless
environments,
the
easier
it
is
for
us
to
create
those
types
of
experiences
for
our
customers
who
were
using
our
corporate
card
products
as
well.
The
other
one
that
we’re
seeing
quite
a
bit
is
really
moving
to
like
a
touchless
expense
management
environment.
We
have
been
partnering
with
a
number
of
expense
management
firms
and
driving
innovation
to
provide
as
much
data
to
the
expense
management
platform
in
a
real
time
manner
as
possible
that
the
moment
that
transaction
is
either
swiped
or
tapped,
we
can
provide
as
much
data
as
possible
to
the
expense
management
platform
so
that
way,
people
can
reconcile
those
expenses
right
then
and
there.
And
we
have
found
that
the
more
that
people
are
able
to
get
that
notification
on
their
mobile
device,
that
they
can
take
a
picture
of
the
receipt,
if
that’s
needed.
For
that
that
specific
transaction,
let’s
say
they’re
sitting
at
a
restaurant,
they
have
dinner
with
10
of
their
clients,
there’s
a
person
and
they
need
to
be
able
to
take
a
photo
of
that,
prompting
them
to
do
that,
at
the
time
where
the
card
is,
is
tapped
or
swiped
or
dipped,
it
would
be
able
to
allow
for
us
to
be
able
to
have
a
much
higher
adoption.
And
so
that
touchless
expense
management
experience
is
really
driving
a
lot
of
innovation
in
the
market.
So
I
think
it’d
be
great
if
we’d
never
had
to
manage
expenses
and
or
manage
receipts
ever
again.
And
it
was
completely
digitized.
The
other
thing
that
we’re
seeing
a
lot
is
a
big
focus
from
our
corporates
related
to
managing
cyber
risks.
And
there’s
certainly
a
you
know,
very
strong
interest
from
both
of
our
financial
financial
institution
partners,
as
well
as
the
corporate
strap
lead
to
manage
cyber
risks
that
can
be
popping
up
from
various
different
various
different
reasons.
And
you
know,
that
is
driving
a
lot
of
the
work
that
we’re
doing
within
our
b2b
team
overall.

Vaidik
Trivedi
11:07:22
Well,
I
have
one
more
question
that
I
want
to
know
about.
Were
you
able
to
find
your
wallet
after
that?

Chad
Wallace
11:07:27
I
did
not
unfortunately.
But
I
did
have
all
my
cards
reissued
to
me
and
most
of
the
cards
are
digitally
reissued
to
me.
So
that
was,
that
was
great.
And
then
by
the
time
that
I
got
back
home
from
Australia,
most
of
the
physical
cards
are
in
the
mail.
So
yeah,
it
worked
out
pretty
well.
Luckily,
luckily,
I
went
to
a
country
where
tap
to
pay
was
very
widely
adopted.
Let’s

Vaidik
Trivedi
11:07:50
say
your
innovation
is
coming
in
handy
for
yourself
that’s

Chad
Wallace
11:07:55
talking
about
eating
my
own
dog
food.

Vaidik
Trivedi
11:07:59
Well,
thank
you
so
much
for
joining
us
today
on
our
podcast.
It
was
lovely
having
you
and
hopefully
we
get
to
have
a
chat
soon.

Chad
Wallace
11:08:06
Absolutely.
Great.
Thank
you
for
having
us
and
we’re
excited
to
continue
the
partnership.

Vaidik
Trivedi
11:08:14
You
have
been
listening
to
the
buzz,
a
bank
automation
news
podcast,
please
follow
us
on
Twitter
and
LinkedIn.
As
a
reminder,
you
can
rate
this
podcast
on
your
platform
of
choice.
Thank
you
for
your
time.
And
be
sure
to
visit
us
at
Bank
automation
news.com
For
more
automation
news

Transcribed
by
https://otter.ai

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